{"id":1452,"date":"2016-11-08T07:41:16","date_gmt":"2016-11-08T12:41:16","guid":{"rendered":"https:\/\/solutionsreview.com\/cloud-platforms\/?p=1452"},"modified":"2016-11-08T07:41:16","modified_gmt":"2016-11-08T12:41:16","slug":"oracle-announces-definitive-agreement-to-acquire-netsuite-at-9-3-billion","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/cloud-platforms\/oracle-announces-definitive-agreement-to-acquire-netsuite-at-9-3-billion\/","title":{"rendered":"Oracle Announces Definitive Agreement to Acquire NetSuite at 9.3 Billion"},"content":{"rendered":"

\"Oracle<\/a><\/p>\n

Oracle<\/a> announced that it has entered into a definitive agreement to acquire NetSuite<\/a>, the very first cloud company. The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion.\u00a0Netsuite offers a collection of\u00a0software services used to manage a business\u2019s operations and customer relations.<\/p>\n

\u201cOracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,\u201d said Mark Hurd, Chief Executive Officer, Oracle. \u201cWe intend to invest heavily in both products\u2014engineering and distribution.\u201d<\/p>\n
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NetSuite and Oracle go way back; In 1998 Evan Goldberg received approximately $125 million in initial financial backing from Larry Ellison,\u00a0founder and chief executive officer of Oracle Corp, through Ellison\u2019s venture capital entity, Tako Ventures. The relationship continues on a new path that will elevate NetSuite\u2019s solution availability worldwide,as NetSuite will\u00a0help Oracle capture more business in smaller companies and compete better with new\u00a0SaaS companies.<\/p>\n

\u201cNetSuite will benefit from Oracle\u2019s global scale and reach to accelerate the availability of our cloud solutions in more industries and more countries,\u201d said Zach Nelson, Chief Executive Officer, NetSuite. \u201cWe\u00a0are excited to join Oracle and accelerate our pace of innovation.\u201d<\/p>\n

NetSuite sells what is called enterprise resource planning software that businesses use to track inventory and manufacturing processes and perform accounting tasks. It, along with Salesforce CRM, and\u00a0<\/span><\/span>helped pioneer the software-as-a-service market.<\/p>\n

\u201cNetSuite has been working for 18 years to develop a single system for running a business in the cloud,\u201d said Evan Goldberg, Founder, Chief Technology Officer and Chairman, NetSuite. \u201cThis combination is a winner for NetSuite\u2019s customers, employees and partners.\u201d<\/p>\n

The transaction is expected to close in late 2016. For more information about this announcement is available at www.oracle.com\/netsuite<\/a>.<\/p>\n

Download\u00a0our Free\u00a0Cloud Computing Platform Buyer’s Guide<\/a> for a closer look at product key features and capabilities.<\/h5>\n
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Oracle announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company. The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion.\u00a0Netsuite offers a collection of\u00a0software services used to manage a business\u2019s operations and customer relations. \u201cOracle and NetSuite cloud applications are complementary, and will […]<\/p>\n","protected":false},"author":29,"featured_media":1453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[409,56,508],"acf":[],"yoast_head":"\nOracle Announces Definitive Agreement to Acquire NetSuite at 9.3 Billion - Cloud Platforms & Infrastructure Services | Solutions Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/cloud-platforms\/oracle-announces-definitive-agreement-to-acquire-netsuite-at-9-3-billion\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/cloud-platforms\/oracle-announces-definitive-agreement-to-acquire-netsuite-at-9-3-billion\/\",\"url\":\"https:\/\/solutionsreview.com\/cloud-platforms\/oracle-announces-definitive-agreement-to-acquire-netsuite-at-9-3-billion\/\",\"name\":\"Oracle Announces Definitive Agreement to Acquire NetSuite at 9.3 Billion - 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